Decreasing oil prices – the barrel lost over 30% of its value since the end of March- starts to translate into a reduction in the fuel surcharge for some airlines.
HONG KONG-The Civil Aviation Department of Hong Kong on Thursday gave the approval for passenger fuel surcharges levied by three airlines to be reduced in July. They included All-Nippon Airways, Cathay Pacific and Singapore Airlines.
The new maximum surcharges will be 237 HK dollars for short-haul flights and 1,043 HK dollars for long-haul flights, representing reductions of 6 percent and 10 percent from the current maximum levels for short- and long-haul flights respectively. Passenger fuel surcharges seek to allow airlines to partially recover the increase in operational costs due to fluctuations in aviation fuel prices. (1 U.S. dollar equals 7.76 HK dollars).
Source: Xinhua
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